Brand Story
23 May 2023, 03:13 GMT+10
Global demand for phycocyanin accounts for US$ 180.5 million in value and is predicted to reach a market size of US$ 353 million by the end of 2033. The global phycocyanin market is forecasted to exhibit expansion at a noteworthy 6.9% CAGR from 2023 to 2033, as per this latest Fact.MR market research analysis. Phycocyanin is a blue pigment that is found in certain types of blue-green algae, such as spirulina and cyanobacteria. It has a wide range of applications in various industries, including food and beverage, pharmaceuticals, cosmetics, and agriculture. The global phycocyanin market is expected to grow significantly in the coming years, driven by increasing demand for natural food colors and dietary supplements.
One of the major drivers of the phycocyanin market is the growing consumer demand for natural and organic products. As consumers become more health-conscious, they are seeking out natural ingredients that offer nutritional benefits without the use of synthetic additives. Phycocyanin is a natural and sustainable ingredient that is rich in antioxidants, vitamins, and minerals, making it a popular choice in the health and wellness industry
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In the food and beverage industry, phycocyanin is used as a natural food colorant, giving products a bright blue hue. It is commonly used in drinks, dairy products, and confectionery. The demand for natural food colors is growing rapidly, as consumers become more aware of the potential health risks associated with synthetic colors
Key Takeaways of Global Phycocyanin Market
Country-wise Insights
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Competitive Landscape
Prime phycocyanin manufacturers are adopting strategies such as mergers, acquisitions, and collaborations to expand their business scope around the world.
Key Companies Profiled
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Key Questions Covered
What are the regulations governing the production and use of phycocyanin, and how do they vary by region?
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